[Market Focus] GC Group Affiliate GC Genome Surges Over 30% on KOSDAQ Debut

GC Genome, a clinical genome analysis company affiliated with the GC Group, saw its stock surge by over 30% in early trading on its first day listed on KOSDAQ.

As of 9:12 a.m. on this day, GC Genome's share price was 14,390 won, up 37.05% from its IPO price of 10,500 won. Trading opened at 14,300 won.

GC Genome held a subscription for general investors on May 29 and 30, recording a competition rate of 484.1 to 1. The subscription deposit totaled 2.5415 trillion won. Previously, from May 19 to 23, the company conducted a demand forecast for institutional investors over five days, with 1,692 institutions participating and a competition rate of 547.47 to 1. The final IPO price was set at 10,500 won, the upper end of the desired price band (9,000 won to 10,500 won).

GC Genome specializes in liquid biopsy and clinical genomics. Last year, the company posted sales of 25.9 billion won and an operating loss of 1.2 billion won. The funds raised through this IPO will be used for research and development aimed at expanding the range of cancer types and the entire cancer care cycle, as well as for diversifying into global markets.